PPI Tesco Bank - how to start?

[TakingControl]

Hello everyone, I am hoping someone could advise/point me into the right direction.

In July 2005, I took out a personal loan with Tesco Bank. £15.5K over 84 months and it includes PPI.

I can't remember when I took the loan out if I had to untick a box (I did the application online) or not. I have just checked my credit agreemet and I have indeed got PPI at £40.87 a month.

I went into debt trouble and have spend all my energy on clearing as much as I can and now finally got the chance to look at this.

My question is can I reclaim the PPI seeing the age of the loan (last payment would be July 2012)? Has anyone had a success with Tesco? I know that even if they only would pay 50% of the PPI back, the loan would be fully paid off leaving me more money to clear my last debt.

I never defaulted or paid late on the loan.

Any help and advise is more than welcome, thank you

[Never-In-Doubt]

Re: PPI Tesco Bank - how to start?

Its RBS that's the lender so you SAR them.

[Never-In-Doubt]

Re: PPI Tesco Bank - how to start?

Di30 is our ppi expert. Send her a pm with a link here and she'll help you sort this.

They'll refund 100%. Not 50%!!

Just pm Di.

[TakingControl]

Re: PPI Tesco Bank - how to start?

Thank you, shall send the PM. I also realised that I wouldn't have needed this PPI anyway as I had substantial sick pay (16 weeks at full pay, then 16 weeks at stat.sick pay and then full pay until return to work) from my then employer

[di30]

Re: PPI Tesco Bank - how to start?

Thank you, shall send the PM. I also realised that I wouldn't have needed this PPI anyway as I had substantial sick pay (16 weeks at full pay, then 16 weeks at stat.sick pay and then full pay until return to work) from my then employer

Hi there

And not a problem.

You receive back all what you have paid of the PPI to date if successful.

So every month you have paid so far and up to when they resolve this complaint, they should therefore remove the PPI and the loan repayments should be lower.
However, if you wish you could also request they cancel at the time you complain/make a reclaim.

If the policy was not discussed with you, make them aware of that as well, because if this was discussed they should have made sure if you wanted the PPI or not, and in my opinion if it was discussed with you when it was sold to you - you would have probably confirmed that you already had adequate sickness cover in place etc with the employer.

As Niddy Says though, a Subject Access Request (SAR) will probably help in your case, where they will send you all the data on the account, you may even recall the sale of the policy.
To request a SAR, there are templates on this site, and you apply the account number of the loan in order for them to track it down, and enclose £10 cheque or postal order.
They have 40 calendar days to comply, give and take a few days though.

And always use signed for recorded delivery on all letters and complaints sent, because this if your proof of posting.

Also keep copies of everything you send and receive, you then have your details to hand in case you need to go back to the case again at some point.

To make a reclaim - its a matter of completing a reclaim questionnaire.
These were previously issued by the Financial ombudsman service (FOS) in order to make it easier in the long run, so if you were not happy with the final decision made by the business, you can send the FOS a copy of the reclaim questionnaire you sent to the business.
This will also save time later on as well.

The usual standard timescale is that of 8 weeks, but you should receive an acknowledgement within a week maybe 2, and that is for the SAR request and the reclaiming questionnnaire complaint.

http://www.financial-ombudsman.org.u...stionnaire.doc

If you require the SAR template letter, please let us know, cheers.

Hope this info helps.

[TakingControl]

Re: PPI Tesco Bank - how to start?

Well I just wanted to say thanks Di for all yuor help. Had a letter from MBNA today that I will get £5198 back from a credit card PPI I couldn't have done it without your help.

I am a tad suprised that they will send me a cheque within 28 days considering that I did a F&F at 55% of the balance 18 months ago but I won't complaint.

Just waiting on Tesco Loan and Barclaycard loan now

[di30]

Re: PPI Tesco Bank - how to start?

Well I just wanted to say thanks Di for all yuor help. Had a letter from MBNA today that I will get £5198 back from a credit card PPI I couldn't have done it without your help.

I am a tad suprised that they will send me a cheque within 28 days considering that I did a F&F at 55% of the balance 18 months ago but I won't complaint.

Just waiting on Tesco Loan and Barclaycard loan now

Excellent stuff!

Congratulations!! So happy for you.
And your most welcome, glad I have been some help and the best of luck on the others too.
Well done! X

[Never-In-Doubt]

Re: PPI Tesco Bank - how to start?

Well I just wanted to say thanks Di for all yuor help. Had a letter from MBNA today that I will get £5198 back from a credit card PPI I couldn't have done it without your help.

I am a tad suprised that they will send me a cheque within 28 days considering that I did a F&F at 55% of the balance 18 months ago but I won't complaint.

Just waiting on Tesco Loan and Barclaycard loan now

Well done....

As mentioned in my original post, they will refund it all - not just a percentage.

Beers are on you then

[TakingControl]

Re: PPI Tesco Bank - how to start?

I am still and at the moment. This sum alone will mean that I can pay off a large chunk of the rest of my debts which would bring me 8 months closer to my DFD So I am afraid no beers just yet Niddy

[Never-In-Doubt]

Re: PPI Tesco Bank - how to start?

I am still and at the moment. This sum alone will mean that I can pay off a large chunk of the rest of my debts which would bring me 8 months closer to my DFD So I am afraid no beers just yet Niddy

Bear in mind don't offer F&F's on older debts as we can get those sorted via UE based F&F's if necessary

Beer in summer then

[TakingControl]

Re: PPI Tesco Bank - how to start?

Bear in mind don't offer F&F's on older debts as we can get those sorted via UE based F&F's if necessary

Beer in summer then

Thanks Niddy. You already helped me with my C1/Cougar Saga (which will be paid off by Feb 2013 unless I can raise the monthly amount I am paying) and I only have 1 CC left which I never defaulted or indeed had a late payment (linked to my mortgage so I always made sure this was ok) and I am using this to rebuild my credit rating once its paid off (changing the limit as I go along) and the pesky C1 default is paid off

So if all goes well (still got 2 pending PPI claims), it be a christmas mulled wine

[TakingControl]

Re: PPI Tesco Bank - how to start?

Had a nice shiny cheque for the whole amount through letter box tis morning. Thanks Di

[di30]

Re: PPI Tesco Bank - how to start?

Had a nice shiny cheque for the whole amount through letter box tis morning. Thanks Di

Fantastic!

Congratulations! Happy to hear it! x

[IF]

Re: PPI Tesco Bank - how to start?

Brilliant news TC and well done Di for helping too

[TakingControl]

Re: PPI Tesco Bank - how to start?

After 11 weeks of wait, the postie brought Tesco's letter today. Thick envelope and I thought, ok, they won't go down with a fight BUT its so thick as its a 2 page letter explaining why I complained, their investigations and that they agree, I wasn't advised enough.

Long story shot, another PPI claim upheld

This brings me to being debt Free by December 2012, a full 3 years earlier (not just due to PPI claims upheld I might add) being debt free.

I am so happy I could cry. Thanks everyone for your support, help and encouragement. I might have to get tipsy tonight